The rupee weakened by 16 paise to 63.79 against the US dollar in early trade on Wednesday as the greenback firmed up overseas amid a lower opening in the domestic equity market.
Forex dealers said apart from the dollar’s gains against some other currencies overseas, a lower opening in the domestic equity markets weighed on the rupee.
On Tuesday, the rupee staged a strong comeback to close 17 paise higher at 63.63.
Meanwhile, the benchmark BSE Sensex was trading lower by 158.30 points or 0.49 per cent to 31,855.89 in early trade today.
